28th Jul 2020. 3.03pm
UK Sector Snapshot
The Housebuilding & Construction sector has continued its strong recent run with standout performances from Berekely Group (BKG) – which has surged through resistance today and Ferguson (FERG) – which we took profits in yesterday.
Metals & Mining have enjoyed the sharp sell-off we’ve witnessed in the US dollar during the last week and this sector is showing no signs of slowing down. However, it should be noted that we have several key mining stocks reporting with Fresnillo (FRES) today, Anglo American (AAL) on Thursday and Gelncore (GLEN) Thursday week.
Banking remains a laggard with HSBC in particular breaking to new trend lows ahead of key data releases from all major UK banks during the next week. We’re also seeing continued to weakness from Telecoms which has BT (BT.A) reporting earnings on Friday and Oil & Gas which has Royal Dutch Shell (RDSB) reporting Q2 earnings tomorrow.
This research is prepared for general information only and should not be construed as any form of investment advice.